Kerala

Idukki

CC/192/2019

james Oc - Complainant(s)

Versus

The urban co-operative Bank - Opp.Party(s)

03 Mar 2020

ORDER

DATE OF FILING :12/11/2019

IN THE CONSUMER DISPUTES REDRESSAL FORUM, IDUKKI

Dated this the 3^rd day of March 2020

Present :

SMT.ASAMOL P. PRESIDENT IN CHARGE

SRI.AMPADY K.S. MEMBER

CC NO. 192/2019

Between

Complainant : James O.C.,

Odackal House,

Keerampara P.O., Kothamangalam.

(By Adv: K.M.Sanu)

And

Opposite Party : 1 . The Secretary,

The Kattappana Uraban Co-Operative Bank Ltd.,

Kattappana P.O., Pin 685 508.

2 . The President,

The Kattappana Uraban Co-Operative Bank Ltd.,

Kattappana P.O., Pin 685 508.

 

O R D E R

SRI. AMPADY K.S. (MEMBER)

 

Case of the complainant is as follows:-

 

Complainant and family was residing at Muttam area and later they shifted their residence to the address shown in the complaint. While he was residing at Muttam area, opposite parties had started an investment scheme named Golden Certificate Scheme for 20 years. As per the scheme he deposited Rs. 26,300/- (Twenty Six Thousand and Three Hundred only) on 06/10/1999 in the name of his minor daughter Anju James under the above scheme. The opposite parties gave deposit certificate for the same. As per the certificate, name of above Anju James, amount deposited, period of deposit, maturity value and rate of interest were recorded in the certificate. Besides maturity date was also noted in the same.

 

After depositing the above amount, there was no intimation from the part of the opposite parties. While so, on 06/10/2019 above deposit has attained maturity. While the complainant with his daughter Anju James approached the bank, opposite parties

(Cont.....2)

-2-

 

refused to give the maturity amount stating flimsy reasons.

 

The complainant deposited the amount for the purpose of the marriage of his daughter. Since the amount was not received, complainant and family became depressed. Opposite parties by using the deposited amount conducted the business and had made good income by 20 years. The act of the opposite parties is deficiency in service as well as unfair trade practice. Complainant is entitled to get maturity amount and also for compensation for deficiency in service.

 

Hence he filed this complaint and prayed for the following reliefs.

 

1 . Issue direction to the opposite parties to give maturity amount of Rs. 5 lakhs

to the complainant.

2 . For the deficiency in service and also for the difficulties of the complainant,

compensation of Rs. 1 lakh may be recovered and give to the complainant and

3. Rs.10, 000/- (Ten Thousand only) may be allowed as costs of the complaint.

 

Complainant produced copy of the deposit certificate along with the complaint.

 

Notice was issued to the opposite parties from this Forum. They represented before this Forum and prayed for written version for three times. But written version was not filed. On 06/02/2020 when the case was called, opposite parties were absent and set them exparte and posted for exparte evidence on 26/02/2020. On this day complainant represented and above deposit receipt is marked as Ext.P1 and evidence was closed. Then the case was posted for orders on 03/03/2020.

 

Since the opposite parties were set exparte, the complaint is disposed of on merits on the basis of materials available on record.

 

On a perusal of the complaint and evidence on record, the following points are to be decided.

 

1. Whether the complainant is entitled to get an order directing the opposite parties to pay the maturity amount of Rs. 5 lakhs as offered by the opposite parties?

(Cont.....3)

 

 

 

-3-

 

 

2. Whether the complainant is entitled to get compensation as claimed for the deficiency in service and difficulties suffered by the complainant?

3. Whether the complainant is entitled to costs of the complaint?

 

We have examined the contentions of the complainant and perused Ext.P1 deposit receipt. It is seen from this that the contentions of the complainant are having force. As per this certificate, maturity value is shown as Rs.5 Lakhs for the deposited amount Rs. 26,300/- (Twenty Six Thousand and Three Hundred only) which was deposited on 06/10/1999. Maturity date is 06/10/2019. Once an offer was made by the bank and issued deposit certificate stating all the above facts, the bank is estopped from denying the payment of maturity amount. It is a clear case of deficiency in service as well as unfair trade practice. So the bank is liable to return the maturity amount to the depositor. Smt.Anju James has now attained majority. In these circumstances, this Forum hereby direct the opposite parties to give the maturity amount of Rs. 5 Lakhs to the depositor on production of original deposit certificate and proof of identity and obtain proper acknowledgment thereof. Hence point No. 1 is decided as above.

 

Next point to be considered is what is the amount of compensation to be allowed to the complainant for the deficiency in service and difficulties suffered. On a consideration of the fact of the case, it is established that there was serious fault on the part of opposite parties by denying the maturity amount. Besides, there was deficiency in service and unfair trade practice on the part of the opposite parties. Considering all the aspects of the case, we direct the opposite parties pay Rs.25, 000/- (Twenty Five Thousand only) towards compensation. Hence this point is answered accordingly.

 

Considering the entire facts and circumstance of the case, the opposite parties are directed to pay Rs.3000/-(Three Thousand only) towards cost of the complainant. All the above amounts should be paid by the opposite parties within 30 days of receipt

 

 

 

(Cont.....4)

-4-

 

of this order, failing which above amounts would fetch simple interest @ 8% per annum from the date of complaint till full realisation.

 

In the result complaint is allowed in part as stated above.

 

Pronounced in the Open Forum on this the 3^rd day of March, 2020.

 

Sd/-

SRI.AMPADY K.S., MEMBER

Sd/-

SMT. ASAMOL P. , PRESIDENT -IN -CHARGE

 

APPENDIX

 

Depositions :

On the side of the Complainant :

Nil

On the side of the Opposite Party :

Nil

Exhibits :

On the side of the Complainant :

Ext.P1 - Deposit receipt dated 06/10/1999.

On the side of the Opposite Party :

Nil.

 

Forwarded by Order,

 

 

SENIOR SUPERINTENDENT